BAKU, Azerbaijan, October 27. An artificial intelligence observatory is being established in Azerbaijan to diversify the economy, increase productivity, and strengthen the country’s global competitiveness, the Deputy Minister of Economy Samad Bashirli said at the opening ceremony of the IE Center for Leadership and Innovation, Trend's correspondent reports.
Bashirli noted that the Ministry of Economy and the University of Artificial Intelligence have signed a framework agreement on cooperation within the AI Hub initiative to establish and develop the “AI Azerbaijan Observatory” — an observatory focused on competitiveness and economic transformation.
He stated that the observatory will bring together academia, government agencies, and the business sector; expand the exchange of knowledge and experience in the field of economic development; and promote the adoption of decision-making approaches based on scientific research and international experience.
Bashirli emphasized that evidence-based research and international expert assessments are crucial for formulating sound economic policy. The observatory’s activities will cover areas such as economic diversification, productivity improvement, strengthening competitiveness, and comparative analysis of international experience. There are also plans to hold relevant discussions to translate research findings into practical recommendations for policy development.
He pointed out that, to translate technological changes into economic benefits, it is necessary to improve leadership approaches and decision-making processes. The implementation of technologies should not be limited to merely mastering them, but should contribute to increased productivity and greater value creation.
Furthermore, he noted that expanding the connections of Azerbaijani startups and entrepreneurs with international innovation networks, investors, and experts can create conditions for developing promising ideas, entering new markets, and attracting investment.
To this end, various support mechanisms are being implemented in the country to stimulate innovation. Bashirli noted that startups, investors, as well as residents and operators of technology parks will be able to benefit from tax incentives for up to 20 years, as well as incentives related to research and development activities, investments in entrepreneurship, and the recruitment of international specialists.
Mikayil Jabbarov’s letter emphasizes that developing competitive human capital, mastering modern technologies, and building innovative capacity are among the main priorities of Azerbaijan’s economic development.
“The main goal is to link international knowledge and expertise with Azerbaijan’s economic priorities and to translate investments in human capital into increased productivity and tangible economic results,” the letter states.
In addition, it was noted that the activities of the IE Center for Leadership and Innovation should contribute to the development of human capital, the expansion of the innovation ecosystem, and the strengthening of Azerbaijan’s global economic competitiveness.